MACOM Technology Solutions (NASDAQ:MTSI) Given New $72.00 Price Target at Cowen

MACOM Technology Solutions (NASDAQ:MTSI – Get Rating) had its price target lowered by Cowen from $80.00 to $72.00 in a report released on Friday, Stock Target Advisor reports.

Several other equities research analysts also recently issued reports on MTSI. Zacks Investment Research raised MACOM Technology Solutions from a hold rating to a buy rating and set a $63.00 price target for the company in a report on Monday, January 31st. Craig Hallum cut their price target on MACOM Technology Solutions from $95.00 to $70.00 and set a buy rating for the company in a report on Thursday, April 14th. StockNews.com began coverage on MACOM Technology Solutions in a report on Thursday, March 31st. They set a buy rating for the company. Cowen cut their price target on MACOM Technology Solutions from $80.00 to $72.00 in a report on Friday. Finally, Barclays cut their price target on MACOM Technology Solutions from $90.00 to $75.00 and set an overweight rating for the company in a report on Monday, April 25th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MACOM Technology Solutions has a consensus rating of Buy and an average target price of $75.10.

NASDAQ MTSI opened at $50.95 on Friday. The company has a market cap of $3.55 billion, a PE ratio of 18.07, a PEG ratio of 1.53 and a beta of 2.05. The company has a current ratio of 6.91, a quick ratio of 6.00 and a debt-to-equity ratio of 1.15. MACOM Technology Solutions has a 12 month low of $48.68 and a 12 month high of $80.30. The stock has a 50 day moving average of $56.58 and a 200-day moving average of $65.47.

MACOM Technology Solutions (NASDAQ:MTSI – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $165.15 million during the quarter, compared to the consensus estimate of $163.14 million. MACOM Technology Solutions had a return on equity of 26.84% and a net margin of 30.06%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, sell-side analysts predict that MACOM Technology Solutions will post 2.11 EPS for the current fiscal year.

In other news, CFO John Kober sold 6,015 shares of MACOM Technology Solutions stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $60.47, for a total transaction of $363,727.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 11,815 shares of company stock valued at $712,062 in the last three months. Insiders own 28.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. grew its position in MACOM Technology Solutions by 7.8% in the third quarter. UBS Asset Management Americas Inc. now owns 70,333 shares of the semiconductor company’s stock valued at $4,562,000 after acquiring an additional 5,087 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in MACOM Technology Solutions in the fourth quarter valued at about $3,869,000. PNC Financial Services Group Inc. grew its position in MACOM Technology Solutions by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 11,214 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 222 shares during the last quarter. Boussard & Gavaudan Investment Management LLP bought a new position in MACOM Technology Solutions in the third quarter valued at about $7,724,000. Finally, KBC Group NV bought a new position in MACOM Technology Solutions in the fourth quarter valued at about $622,000. Institutional investors own 97.92% of the company’s stock.

About MACOM Technology Solutions (Get Rating)

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, the Asia Pacific, and internationally.

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